Head and Shoulders formed on the 4hr chart. Watch this neckline at $7,800 if we break it we are going down. Technically, the move to the downside is usually the amount from the neckline to the head. This case it's about $600, which would put it right in our first martingale buy zone around this 7.3k level. We should get a bounce back up to at least $7,800 if not higher.
On the flip side, if this H&S pattern on BTC doesn't validate and continue upwards, it should march up to the $9k area.
Don't stress, don't use leverage and pick your points.
Happy Trading,
-Sherem
On the flip side, if this H&S pattern on BTC doesn't validate and continue upwards, it should march up to the $9k area.
Don't stress, don't use leverage and pick your points.
Happy Trading,
-Sherem
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If we break these recent highs, the H&S becomes invalidated and it would signal a move higher
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Updated chart:
